ROSEMONT, IL-The private new owner of 180,000-square-foot office building 6400 Shafer Ct. here has hired ACG Management to lease out the property, located at the intersection of Higgins Road and Interstate 294. The management firm had also represented both the buyer and seller TSLF Shafer LLC when the seven-story building traded hands for $11.5 million in April.

Paul Muessig with ACG says the seller was the lender that had taken back the deed to the 63%-occupied property. The previous owner had bought the building for more than $21 million, Muessig tells GlobeSt.com. “Because of the way this traded at a good price, the operator doesn’t need to get as high of rent as other buildings in the area,” he says. His company also negotiated private financing for the buyer, which included two tiers of seller-provided debt. James Webber with ACG represented the buyer in the transaction.

The building was built in 1979, and had a major rehabilitation in 1990. The lead tenant is Cap Gemini, an information technology consulting firm, with the other eight tenants including Mutual of Omaha, AHI International, Seasons Healthcare Management and International Housewares Association. The asking rent is $22 per square foot.

It’s no secret that the Chicago suburban office market has suffered greatly in the past two years, and this O’Hare market is no exception, Webber says. The O’Hare office market is at almost 25% vacant, according to a Grubb & Ellis first quarter market report. “We’re hopeful that it will pick up,” Webber says. “There was a significant interest in this building, which does end up on both the class A and class B tours, it tends to play in both sectors.” He said there’s no planned improvements other than regular maintenance.